ThinkMarkets is a brand of TF Global Markets (UK) Ltd and TF Global Markets (Aust) Ltd. Starting in New Zealand as ThinkForex, the company moved its headquarter in Australia and received regulation there. In 2015 the broker established an office in the UK under Financial Conduct Authority (FCA) regulation and now it claims to have clients in over 75 countries.
ThinkMarkets offers more than 170 of most-traded currency pairs and contracts for difference (CFDs) on indices, precious metals and energy products.
Clients can trade either with the popular platform MetaTrader 4 (MT4), or with company’s own platform ThinkTrader. Both platforms are available as desktop, web-based and mobile versions. ThinkTrader provides useful features such as 1-click trading, technical analysis and advanced charting tools, integrated Autochartist, more than 100 indicators and a possibility to trade directly from the charts. Economic calendar and market news are integrated as well.
There are three types of accounts:
- Standard account requires a minimum deposit of USD250 and offers trade without commissions, a minimum contract size of 0.01 lot, 1 lot is 100,000 units and spreads for EUR/USD start from 0.4 pips. It is available on ThinkTrader platform only;
- Pro account requires a minimum deposit of USD2,000 and offers a minimum contract size of 0.01 lot, 1 lot is 100,000 units and spreads for EUR/USD start from 0.1 pips. It is available on MetaTrader 4 platform only and there is some commission for every deal;
- VIP account requires a minimum deposit of USD25,000 and offers a minimum contract size of 0.1 lot, 1 lot is 100,000 units and spreads for EUR/USD start from 0.1 pips. It is available on MetaTrader 4 platform only and the commission is negotiable.
Company claims to deliver market-driven, tight spreads for all currency pairs and ‘high-speed’ order execution. However, customers should be aware of the existence of slippage if there is low liquidity or high volatility and market orders can be executed at a different than shown in the platform price. Besides, stop loss orders are not guaranteed, and if there is a gap, pending orders will be executed at the first available price after the gap has triggered the order.
The maximum leverage is 1:400 applicable in forex trading and this could increase the risk of loss. And moreover, there is no negative balance protection so clients could owe money to the broker.
Execution policy shows that ThinkMarkets may take on the risk of client trades and positions by executing trades directly, or pass trades direct to a liquidity provider, using a Straight Through Processing (STP) arrangement. That means the company may act as a market maker and this could lead to potential conflicts of interests with customers.